View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 11, 2022

All G Foods adds Woolworths to start-up’s plant-based investment roster

All G Foods will start shipping to Singapore and Thailand in March.

By Simon Harvey

Australian plant-based meat-start-up All G Foods has added local retailer Woolworths to its investment roster.

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

Woolworths has invested “multi-million” dollars in the precision fermentation business via its venture-capital fund W23, set up in 2019 to enable the retailer to “access innovation and technology to accelerate the group’s strategy”.

All G Foods, founded in 2020 by CEO Jan Pacas, started out with its Love Buds brand of plant-based burgers, with newly developed mince, sausages, nuggets and bacon alternatives due to hit local retailers “over the next few months”.

The company also has its eyes on the plant-based dairy segment: “All G Foods believes it will be the first Australian company using a foundational technology called precision fermentation to develop dairy proteins that can be included in a range of dairy products,” a statement read.

Pacas added: “The W23 investment into All G Foods provides an incredible opportunity to partner with Australia’s most prominent leader in the retail landscape. As we rapidly scale, it’s important for us to partner with a VC that has unparalleled access to distribution, assets and capabilities.”

Buds Burger patties initially launched last year “across 300 hundred-plus retail outlets” and have since landed in the foodservice channel.

Speaking to Just Food last month, Pacas confirmed the soy-based burgers are also on sale in another major Australian retailer, IGA. He also revealed All G Foods planned to set up a subsidiary in China, targeted for the summer of 2022, and to ship products to Singapore and Thailand from February.

A spokesperson clarified shipments to those two Asian countries will now begin in March.

The Woolworths’ capital builds on a AUD16m (US$11.4m today) seed round secured last September. The Clean Energy Innovation Fund, set up by the Australian government in 2016, provided AUD5m.

Other investors featured Singapore-based private-equity firm Triple Star Capital and Australian buy-out house Ellerston Capital. Monash Capital, another local investment fund, Peter Andrews, the CEO of Australia’s Andrews Meats, and David Shein and Geoff Levi, the founders of Our Innovation fund, also contributed.

Discussions for listings in Woolworths are still ongoing, the All G Foods’ spokesperson confirmed, adding any tie-up with the retailer will not put restrictions on other partnerships. Pacas remains the majority shareholder.

Ingrid Maes, the managing director of W23, said: “All G Foods is at the forefront of new alternative-protein production techniques and is setting out to build a global business that can help feed a growing population. We’re excited about the potential of All G Foods’ emerging technology and ambitious growth plans.”

Related Companies

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food